Answer Posted / venkat

Severity is about the impact on the software and priority is
about the impact on the business of the user. Low severity
means software is lesser impacted and low priority means
user can live with the defect for a longer time. As an
example of such a defect, a label on the UI is read as
"Inerezt Rate" instead of "Interest Rate". The correction is
often cosmetic in nature.

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